IAC/InterActiveCorp is looking to replace Sean Rad as chief executive officer of Tinder, two years after he co-founded the dating startup that lets users swipe through pictures on a smartphone app to find a match.
Sam Yagan, CEO of IAC’s Match Group, which includes Tinder, confirmed the plans in a phone interview today after Forbes reported the move to replace Rad.
“Rad remains CEO until we find a new one, and I expect him to stay on Tinder’s board and to remain involved with the company’s product development,” Yagan said. “Tinder growth is in the double digits and a new CEO is going to help us to recruit the talent we need.”
Rad, 28, has been caught up in a controversy this year after a female executive sued Tinder and parent IAC, alleging harassment and discrimination. Whitney Wolfe, who described herself as a co-founder, said in the lawsuit that co-founder Justin Mateen verbally disparaged her and that executives ignored her complaints. Rad had told employees that the allegations were “full of factual inaccuracies and omissions.”
Mateen still ended up resigning. Forbes reported that the lawsuit was settled and Wolfe got more than $1 million, citing a source close to the case.
Yagan said Tinder needs a more seasoned CEO and declined to comment on whether the move to replace Rad is linked to the case. He declined to name any candidates for the job or disclose whether the company hired an executive search firm.
“We’re recruiting a new CEO to lead Tinder through this time of explosive growth and expansion, adding world-class talent to the management team and allowing me to focus on Tinder’s product and brand,” Rad said in an e-mailed statement. “I look forward to working with the new CEO to realize Tinder’s massive potential.”
Matt Cohler, a partner at venture capital firm Benchmark, recently took a seat on Tinder’s board. He’s going to help with the CEO search using his contacts in Silicon Valley, said Yagan.
This article first appeared on bloomberg.com
